GOOD NEWS FHA HAS LOWERED THEIR MI FEES! FHA STREAMLINES ARE BACK       New fha streamline refinancee guidelines go into effect on 6/11/2012.  Fha will be lowering it’s upfront mi fee to .01 percent and it will be lowering its monthly mi factor rate to .55 percent. To  qualify your original note needs to be orginated before 6/1/2009. This is huge news.  Currently most borrowers are unable to refinance due to the fact the upfront mi factor is now 1% and the monthly mi  factor is 1.15%.  Most of the borrowes who  call up to refinance originally had a mi factor of .55%. ...

The new hours of operation are 7:30am to 4:00pm PST. Lock Expiration Auto-Email Notification: A new email reminder will be generated 7 days prior to the lock expiring.  The reminder will be sent to the owner of the loan in SNAP and the Business Development Manager. Extension/Relock Reminders: Extensions are available for programs and rates currently posted on our rate sheet only. Requests for extensions on Jumbo loans, ARM loans or Specialty Products will be looked at on a case-by-case basis.  Requests for extensions can be made no earlier than 5 days prior to the...

Here are GMAC banks guidelines on bankruptcy, foreclosure, and pre-foreclosure recovery time periods. Conventional Chapter 7 Bankruptcy – 4 Years Discharge/Dismissal (Maximum Financing) Chapter 13 Bankruptcy – 2 Years Discharge or 4 Years Dismissal (Maximum Financing)  Foreclosure – 7 Years (Maximum Financing) Pre-Foreclosure (Short Sale) – 2 Years (80% LTV Max), 4-7 Years (90% LTV Max), 7 Years (Maximum Financing) Jumbo Chapter 7 or Chapter 13 Bankruptcy – 7 Years Discharge/Dismissal (Maximum Financing) Foreclosure and Pre-Foreclosure – 7 Years (Maximum Financing) FHA Chapter 7 Bankruptcy...

About four or five years ago banks started charging a Mers fee on every single loan transaction.  What is a mers?  MERS is a process that simplifies the way mortgage owership and servicing rights are originated, sold, and tracked. Arizona Wholesale Mortgage Inc. offers the following loan products:  Fha Loans  203 K Loans  Reverse Mortgages  Conventional Loans  Conforming Loans  NonConforming/Jumbo Loans  Va Loans  Fannie Mae Home Path  Fannie Du Refi Plus  Freddie Mac Relief Refi  Obama Refinance Program- Harp 1.0 & Harp 2.0 When considering your next loan, consider Arizona...

Are you thinking about refinancing your current fha loan?  Well, you will want to make sure you hurry up and fill out a loan application.  The upfront MIP is increasing to 1.75% and  Monthly MIP is increasing to 1.25% for all case numbers pulled on an fha loan on or after  April 1, 2012.  So hurry.  Don’t delay and fill out your applications today before the increase takes place. Arizona Wholesale Mortgage Inc. offers the following loan products:  Fha Loans  203 K Loans  Reverse Mortgages  Conventional Loans  Conforming Loans  NonConforming/Jumbo Loans  Va Loans  Fannie Mae Home...